Why is Facebook Rebranding The Company with A New Name?
3 min read
According to a source, Facebook plans to rebrand itself in a spectacular company from its history the week after next. Let’s see why is Facebook about to rebrand the company with a new name.
According to The Verge, a US tech news site, Facebook’s founder and CEO, Mark Zuckerberg, is planning to discuss the title change at a company event the week after next, but it could be announced ahead of time.
As per the plans, Facebook would rename its holding company but not the identity of its famous platform. Which is internally referred to as the “big blue app.” The company is the owner of the virtual reality brand Oculus, Instagram, and WhatsApp.
According to The Verge, the holding company’s new identity could be derived from Horizon. 17 years ago, Zuckerberg founded Facebook.
Facebook product, has just under 2.8 billion daily users said to Facebook. But Zuckerberg is known for his emphasis on growth, which is motivated by fear. That Facebook will be surpassed by a digital up and comer at any time. This week, in the European Union, Facebook announced the creation of 10,000 new jobs as part of its growth plans. Which include the creation of a metaverse. If Facebook goes ahead with the rebranding, it will not be the first time. Google rebranded as Alphabet in 2015, reflecting the company’s dedication to tear into new areas of technology, such as self-driving cars.
Why is Facebook about to change it’s Name?
As per the Verge, as the cornerstone of a new growth strategy, the proposed name change is being driven by VR. As the company focuses on creating a “metaverse”. On October 28, according to The Verge, the rebranding announcement could happen at the company’s annual product conference, Connect. Then more information about the metaverse is expected to be revealed. That’s a new way to connect with people online.
Oculus products would be important in the metaverse. A vaguely defined theory in which people live their professional and social lifestyles. While communicating with others such as through VR headsets and virtual reality. Where an electronic layer is put on top of reality, like in the famous Pokémon Go game.
Horizon Worlds is a social virtual reality platform developed by Facebook, as is Horizon Workrooms, a virtual-reality meeting service. Facebook’s vice president of global affairs, Nick Clegg, has stated that he now holds his Monday morning conference in the metaverse. Complete with a table or view and smartboard.
The share of Facebook has performed well this year, rising 25 percent since January. However, the stock of the company has dropped below its September high. Following the Haugen revelations, Facebook is under intense scrutiny. An ex-Facebook product manager, who is not a part of the firm anymore, left in May. He testified before the US Congress that the company was endangering children and unstable democratic systems.
